Candriam S.C.A. Trims Stock Holdings in Eversource Energy $ES

Key Points

• Candriam S.C.A. has reduced its stake in Eversource Energy by 11.9%, owning 71,498 shares valued at approximately $4.44 million as of the end of the most recent quarter.
• Other institutional investors such as Marshall Wace LLP and Adage Capital Partners GP L.L.C. have increased their holdings in Eversource Energy significantly, indicating strong interest from hedge funds.
• Eversource Energy reported an earnings per share (EPS) of $0.96 for its most recent quarter, surpassing analysts' expectations, but its revenue of $2.84 billion fell short of forecasts.

Candriam S.C.A. reduced its stake in Eversource Energy (NYSE:ES - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,498 shares of the utilities provider's stock after selling 9,642 shares during the period. Candriam S.C.A.'s holdings in Eversource Energy were worth $4,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP grew its position in Eversource Energy by 134.0% in the 4th quarter. Marshall Wace LLP now owns 53,179 shares of the utilities provider's stock valued at $3,054,000 after acquiring an additional 30,455 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Eversource Energy by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,444,453 shares of the utilities provider's stock valued at $82,954,000 after acquiring an additional 38,019 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Eversource Energy by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 514,574 shares of the utilities provider's stock valued at $29,552,000 after acquiring an additional 25,316 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Eversource Energy by 75.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 592,334 shares of the utilities provider's stock valued at $34,018,000 after acquiring an additional 255,500 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Eversource Energy by 3.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,699 shares of the utilities provider's stock valued at $1,418,000 after acquiring an additional 769 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $66.4950 on Friday. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The company has a market cap of $24.68 billion, a PE ratio of 28.54, a P/E/G ratio of 2.46 and a beta of 0.61. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The business has a 50-day simple moving average of $65.00 and a 200-day simple moving average of $62.46.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. BMO Capital Markets lifted their target price on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Finally, Mizuho lifted their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $64.38.

Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.

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